PDVSA & ENI in Talks to Develop Phase 2 of Cardon IV

Source: www.gulfoilandgas.com 8/24/2016, Location: South America

The People's Minister of Petroleum and president of Petroleos de Venezuela, SA (PDVSA), Eulogio Del Pino, held a meeting with President of the Italian oil company ENI, Claudio Descalzi, accompanied by their respective trains executives to agree the necessary conditions to allow further development of the production infrastructure of gas and condensate field Cardon IV in the Gulf of Venezuela, which currently produces more than 500 million cubic feet of natural gas and 15 thousand barrels per day of condensate in its Phase 1.

The actions defined by the presidents of the oil companies allow the consortium developing the project commit the resources to sign construction contracts Phase 2.

Descalzi President expressed optimism of achieving reach up to 950 million cubic feet of natural gas within 22 months and then increase production to 1,200 million cubic feet and 38 thousand barrels per day of condensate and natural gas liquids.

Among the most important issues the strategic elements of the project were discussed, the commercial aspects associated with the supply contract; and the requirements of the domestic market and export opportunities and mechanisms related to the initiatives of Latin American and Caribbean energy integration.

At the meeting follow up joint investment in the development plan of the joint venture Petrojun?n and mechanisms to improve the recovery of oil at current price scenarios was made.

ENI is one of the strategic partners of PDVSA with diversified investments in areas ranging from the production of extra-heavy crude in the Orinoco Oil Belt Hugo Chavez, medium crude oil in offshore areas of the Gulf of Paria and production of natural gas and condensate in the Gulf of Venezuela. It also helps to balance the demand for gas for national development, generating sources of productive work and the increase in capacity of the national productive sector.


Denmark >>  8/3/2022 - Norwegian Energy Company ASA (“Noreco” or the “Company”) has today published an update on the Tyra Redevelopment Project (“Tyra II” or the “Project”) ...
United Kingdom >>  7/31/2022 - Ping Petroleum UK has reaffirmed its commitment to develop the Avalon Field, in the Central North Sea, with rejuvenation plans for the Hummingbird FPS...

Angola >>  7/28/2022 - As part of the rollout of its multi-energy strategy in Angola, TotalEnergies announces the launch of the Begonia oil field, and Quiluma and Maboqueiro...
Norway >>  7/25/2022 - Neptune Energy today announced the safe and successful drilling of four development wells on the operated Fenja field in the Norwegian Sea, in prepara...

United Kingdom >>  7/25/2022 - BG International Limited, an affiliate of Shell U.K. Limited, has taken the final investment decision (FID) to develop the Jackdaw gas field in the UK...
Cyprus >>  7/21/2022 - The Republic of Cyprus' Ministry of Energy, Commerce, and Industry and Chevron hereby declare their mutually beneficial partnership in the development...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.